PM approves coastal road project in Thai Binh province
Prime Minister Nguyen Xuan Phuc has approved a project to build a coastal road in the Red River Delta province of Thai Binh.
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The project, scheduled to start in 2018 and complete in 2021, will connect northern coastal provinces with the aim of increasing the use of marine resources as well as preparing for climate change impacts and rescue at sea.
The project to build the 35.5km road has a total investment capital of over VND3,872 billion (US$170.5 million), of which capital from the State budget is VND1,100 billion (US$48.5 million).
Capital mobilised from the local budget and other sources is VND1,593 billion (US$70.1 million), while capital from investors under the build-operate-transfer (BOT) model is VND1,289 billion (US$56.8 million).
The estimated duration for toll collection is expected to last from 2022 to 2045. However, the official time for toll collection will be defined through the bidding to select the investor.